US Secretary of State Mike Pompeo announced the US plans for Asia and revealed that the country was looking at spending $113 million in the region. It is to be distributed to different investments, but reports have pointed at energy, infrastructure, and technology as key branches.
The US Secretary of State also pointed out that it is part of the US' own economic strategy, dubbed by President Donald Trump as the "Indo-Pacific" economic strategy. Pompeo bared the administration's vision during a speech in Washington as he met with business leaders. He said that the key to widening the US' influence is through partnerships and not through being dependent.
It couldn't have come at a more opportune time for the US. The nation is currently locked in a dispute with China over trade tariffs aimed at lessening Chinese influence in the region. The Indo-Pacific, BBC reports, refer to the US West Coast, the South-East Asian regions, and parts of or the whole of India.
CNBC reveals, however, that a senior U.S. official said it wasn't aimed towards China's "Belt and Road Initiative" at all, hinting at damage control. The Chinese strategy is aimed away from the Indo-Pacific-its goal is to extend the reach of Asia towards key partners in certain areas of Africa, extending all the way towards Europe.
To make good on the strategy, Pompeo revealed that he is preparing to visit nations in the Southeast Asian region, namely Indonesia, Malaysia, and Singapore. Among the topics for discussion is the extension of security aid in the region.
Another key topic, Pompeo noted, was the US' commitment to keeping peace in the region. Beijing is currently in a dispute, as well, with nations staking a claim to areas in the South China Sea. Pompeo might be referring to aiding or stopping these nations when he explained opposition to any country positioning for dominance in the area.
The comments come at a time when the US looks extremely protectionist. When the president took office, he announced that the US was breaking away from the Trans-Pacific Partnership deal set last year. Only this month, the US imposed tariffs on the importation of Chinese goods.
